Friday, 14 November 2014
Goodman starts speculative construction of first office phase at Eastside Locks (UK)
Global integrated property group, Goodman announces that it has commenced development of the first new office building at Birmingham’s vibrant new Eastside regeneration quarter, representing the first speculative office project in the city since early 2007.
Goodman began construction last week of a 5,110 m² four storey office scheme, with basement parking for 29 cars and 26 bicycles, at 1 Cardigan Street, Eastside Locks, after receiving detailed planning consent from Birmingham City Council.
On completion, the new office scheme at Eastside Locks will offer stunning flexible Grade A accommodation suitable for the modern demands of a range of customers. The interior design and surrounding landscaping will complement its urban setting, with the use of natural materials where possible.
Eastside Locks is a major mixed-use development in the Eastside area of Birmingham, part of which has been designated as an Enterprise Zone by the Government to promote economic growth, supported by the Greater Birmingham and Solihull Local Enterprise Partnership. The site has a long history, with significant investment of around £40 mln (approx. €50.4 mln). Its position alongside the new proposed HS2 station presents huge potential for the partners involved and Goodman has commenced the construction of site wide infrastructure earlier this year.
Eastside, which is the home of Millennium Point and Birmingham City University, is exceptionally well connected to the city core via Eastside City Park and is set to become a truly multi-modal destination. The area is quickly becoming the heart of Birmingham’s learning and business quarter.
The latest development is the first phase of up to 74,322 m² of offices, which will all be situated within a landscaped and managed environment alongside the Digbeth branch of the Birmingham and Fazeley Canal. The location offers a premium environment at a discount to City Core rents in the UK’s second city.
James Raven, Development Director, UK Business Parks Goodman, said: “It’s a very exciting time for the city of Birmingham. With HS2 work scheduled to begin in 2017, the on-going regeneration of New Street Station and the hugely increased connectivity of Eastside, the potential of Greater Birmingham and, in particular, Eastside is huge and something that we are proud to be at the heart of. Building works are due to complete in 2016.